QRVO Iron Condor Strategy
QRVO (Qorvo, Inc.), in the Technology sector, (Semiconductors industry), listed on NASDAQ.
Qorvo, Inc. develops and commercializes technologies and products for wireless, wired, and power markets worldwide. The company operates through two segments, Mobile Products, and Infrastructure and Defense Products. It offers mobile devices, such as smartphones, wearables, laptops, tablets and other devices; radio frequency power management integrated circuits, ultra-wideband (UWB) system-on-a-chip (SoC) and system-in-package (SiP) solutions, MEMS-based sensors, antenna tuners, and antennaplexers, as well as discrete multiplexers, duplexers, filters, and switches; and cellular base stations include switch-low noise amplifier (LNA) modules, variable gain amplifiers, integrated power amplifier (PA) Doherty modules, discrete LNAs, and high power GaN amplifiers. The company's also provides SiC products, such as Schottky diodes and transistors for automotive, industrial, IT infrastructure and renewable energy markets; SoC hardware, firmware, and application software for smart home applications; power management solutions include programmable power management integrated circuits (ICs) and power application controllers; RF products and compound semiconductor foundry services to defense primes and other global defense and aerospace customers; RF connectivity and UWB SoC solutions for automotive connectivity; and Wi-Fi products, such as PAs, switches, LNAs and bulk acoustic wave filters, as well as integrated solutions including front end modules (FEMs) and integrated FEMs. It sells its products directly to original equipment manufacturers and original design manufacturers, as well as through a network of sales representative firms and distributors. The company was founded in 1957 and is headquartered in Greensboro, North Carolina.
QRVO (Qorvo, Inc.) trades in the Technology sector, specifically Semiconductors, with a market capitalization of approximately $8.05B, a trailing P/E of 24.74, a beta of 1.42 versus the broader market, a 52-week range of 73-106.3, average daily share volume of 1.2M, a public-listing history dating back to 2015, approximately 6K full-time employees. These structural characteristics shape how QRVO stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.42 indicates QRVO has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position.
What is a iron condor on QRVO?
An iron condor sells a call spread and a put spread at strikes outside spot, collecting net premium that is kept if the underlying stays inside the inner short strikes.
Current QRVO snapshot
As of May 15, 2026, spot at $92.58, ATM IV 34.40%, IV rank 21.67%, expected move 9.86%. The iron condor on QRVO below is built from the same end-of-day chain, with strikes snapped to listed contracts and premiums pulled from the bid/ask midpoint at a 34-day expiry.
Why this iron condor structure on QRVO specifically: QRVO IV at 34.40% is on the cheap side of its 1-year range, which means a premium-selling QRVO iron condor collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 9.86% (roughly $9.13 on the underlying). The 34-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated QRVO expiries trade a higher absolute premium for lower per-day decay. Position sizing on QRVO should anchor to the underlying notional of $92.58 per share and to the trader's directional view on QRVO stock.
QRVO iron condor setup
The QRVO iron condor below is built from the end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With QRVO near $92.58, the first option leg uses a $97.50 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed QRVO chain at a 34-day expiry; the cross-strike IV skew is reflected directly in the per-leg values rather than approximated. Quantity sizing assumes one contract per option leg (or 100 QRVO shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Sell 1 | Call | $97.50 | $2.03 |
| Buy 1 | Call | $100.00 | $1.28 |
| Sell 1 | Put | $87.50 | $2.08 |
| Buy 1 | Put | $82.50 | $1.05 |
QRVO iron condor risk and reward
- Net Premium / Debit
- +$177.50
- Max Profit (per contract)
- $177.50
- Max Loss (per contract)
- -$322.50
- Breakeven(s)
- $85.73, $99.28
- Risk / Reward Ratio
- 0.550
Max profit equals the net credit times 100 inside the inner strikes; max loss equals wing width minus credit times 100. Two breakevens at inner strikes plus and minus the credit.
QRVO iron condor payoff curve
Modeled P&L at expiration across a range of underlying prices for the iron condor on QRVO. Each row is one sampled price point from the computed payoff curve; the full curve uses 200 price points internally before being summarized into 10 rows here.
| Underlying Price | % From Spot | P&L at Expiration |
|---|---|---|
| $0.01 | -100.0% | -$322.50 |
| $20.48 | -77.9% | -$322.50 |
| $40.95 | -55.8% | -$322.50 |
| $61.42 | -33.7% | -$322.50 |
| $81.89 | -11.6% | -$322.50 |
| $102.35 | +10.6% | -$72.50 |
| $122.82 | +32.7% | -$72.50 |
| $143.29 | +54.8% | -$72.50 |
| $163.76 | +76.9% | -$72.50 |
| $184.23 | +99.0% | -$72.50 |
When traders use iron condor on QRVO
Iron condors on QRVO are a delta-neutral premium-collection structure that profits if QRVO stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
QRVO thesis for this iron condor
The market-implied 1-standard-deviation range for QRVO extends from approximately $83.45 on the downside to $101.71 on the upside. A QRVO iron condor is a delta-neutral premium-collection structure that pays off when QRVO stays inside the inner short strikes through expiration; the wing width should reflect the trader's tolerance for the maximum loss scenario where the underlying breaches an outer strike. Current QRVO IV rank near 21.67% sits in the lower third of its 1-year distribution, where IV often re-expands toward the mean; this favors premium-buying structures and disadvantages premium-selling structures on QRVO at 34.40%. As a Technology name, QRVO options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to QRVO-specific events.
QRVO iron condor positions are structurally neutral / range-bound; the modeled P&L assumes European-style exercise at expiration and ignores early assignment, transaction costs, dividends paid before expiry on the stock leg (when present), and the bid-ask spread on the listed chain. QRVO positions also carry Technology sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move QRVO alongside the broader basket even when QRVO-specific fundamentals are unchanged. Short-premium structures like a iron condor on QRVO carry tail risk when realized volatility exceeds the implied move; review historical QRVO earnings reactions and macro stress periods before sizing. Always rebuild the position from current QRVO chain quotes before placing a trade.
Frequently asked questions
- What is a iron condor on QRVO?
- A iron condor on QRVO is the iron condor strategy applied to QRVO (stock). The strategy is structurally neutral / range-bound: An iron condor sells a call spread and a put spread at strikes outside spot, collecting net premium that is kept if the underlying stays inside the inner short strikes. With QRVO stock trading near $92.58, the strikes shown on this page are snapped to the nearest listed QRVO chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are QRVO iron condor max profit and max loss calculated?
- Max profit equals the net credit times 100 inside the inner strikes; max loss equals wing width minus credit times 100. Two breakevens at inner strikes plus and minus the credit. For the QRVO iron condor priced from the end-of-day chain at a 30-day expiry (ATM IV 34.40%), the computed maximum profit is $177.50 per contract and the computed maximum loss is -$322.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a QRVO iron condor?
- The breakeven for the QRVO iron condor priced on this page is roughly $85.73 and $99.28 at expiration, derived from end-of-day chain premiums. Breakeven is the underlying price at which the strategy's P&L crosses zero ignoring transaction costs and assignment risk. The current QRVO market-implied 1-standard-deviation expected move is approximately 9.86%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a iron condor on QRVO?
- Iron condors on QRVO are a delta-neutral premium-collection structure that profits if QRVO stock stays inside the inner short strikes; short strikes typically sit near 1 standard deviation from spot.
- How does current QRVO implied volatility affect this iron condor?
- QRVO ATM IV is at 34.40% with IV rank near 21.67%, which is on the low end of its 1-year range. Premium-buying structures (long call, long put, debit spreads) are relatively cheap in this regime; premium-selling structures collect less credit per unit risk.